Pictet Trims Hedge Fund Allocation for Cheaper Quant Strategies
- Average hedge fund return disappointing: wealth manager’s CIO
- Investors to allocate more to factor investing, Invesco says
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Pictet Wealth Management, the Geneva-based firm that oversees $189 billion, has started to pull some money from hedge funds in favor of cheaper factor-investing strategies as it seeks to cut costs for clients.
The money manager is looking to shift money into so-called alternative risk premia products that replicate hedge fund-style strategies across asset classes at a lower price, Chief Investment Officer Cesar Perez Ruiz said. The unit is also trimming allocations to some fixed-income strategies to help fund the shift in strategy, he said.